Charles River Laboratories International (NYSE:CRL) Shares Gap Up After Strong Earnings

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report)'s stock price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $115.41, but opened at $141.03. Charles River Laboratories International shares last traded at $134.46, with a volume of 1,274,674 shares changing hands.

The medical research company reported $2.34 EPS for the quarter, beating analysts' consensus estimates of $2.06 by $0.28. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The business had revenue of $984.17 million during the quarter, compared to analyst estimates of $942.34 million. During the same quarter in the prior year, the business earned $2.27 earnings per share. The firm's revenue for the quarter was down 2.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays upped their price objective on shares of Charles River Laboratories International from $145.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday. Morgan Stanley reduced their price objective on shares of Charles River Laboratories International from $220.00 to $184.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. The Goldman Sachs Group cut shares of Charles River Laboratories International from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $190.00 to $170.00 in a research report on Friday, March 21st. Robert W. Baird upped their price objective on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Mizuho decreased their target price on Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $176.00.

Insider Transactions at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 4,400 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total value of $715,000.00. Following the completion of the sale, the executive vice president now directly owns 20,013 shares of the company's stock, valued at $3,252,112.50. This trade represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Birgit Girshick bought 1,514 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $164.63 per share, for a total transaction of $249,249.82. Following the completion of the acquisition, the chief operating officer now directly owns 55,058 shares in the company, valued at $9,064,198.54. The trade was a 2.83% increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Charles River Laboratories International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fiduciary Financial Group LLC lifted its stake in shares of Charles River Laboratories International by 3.9% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,665 shares of the medical research company's stock worth $310,000 after buying an additional 63 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company's stock worth $35,000 after acquiring an additional 65 shares during the last quarter. Cornerstone Investment Partners LLC boosted its holdings in shares of Charles River Laboratories International by 3.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,940 shares of the medical research company's stock worth $358,000 after acquiring an additional 69 shares during the period. Metis Global Partners LLC grew its position in shares of Charles River Laboratories International by 4.4% in the fourth quarter. Metis Global Partners LLC now owns 1,720 shares of the medical research company's stock valued at $318,000 after purchasing an additional 72 shares during the last quarter. Finally, Two Sigma Securities LLC increased its stake in shares of Charles River Laboratories International by 4.3% during the fourth quarter. Two Sigma Securities LLC now owns 1,981 shares of the medical research company's stock worth $366,000 after purchasing an additional 81 shares during the period. 98.91% of the stock is owned by institutional investors.

Charles River Laboratories International Stock Performance

The company has a market cap of $7.03 billion, a P/E ratio of 953.71, a price-to-earnings-growth ratio of 4.54 and a beta of 1.50. The stock has a 50 day moving average price of $138.40 and a two-hundred day moving average price of $166.20. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).